Information from the Foreign Exchange Market reveals that the rupee depreciated to close Rs. 135 against the dollar.
The dollar which was valued at Rs.133 and 20 to 30 cents Wednesday morning, had increased in value to close to Rs.135 rupees by afternoon.
Information from the Forex market reveals that this is the biggest daily depreciation that the rupee has ever undergone.
Prior to this, in mid last year, the rupee depreciated to Rs.134 rupees and 70 cents against the US dollar.
Reuters news agency reports that the depreciation of the rupee is being attributed to increased importer demand for the US dollar, the sale of government bonds by foreign investors and exporters holding on to their dollars.
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